Swiss drug developer Windward Bio files for US IPO

Oct 23 — Windward Bio filed for a US initial public ​offering on Friday, becoming the latest drug developer seeking to capitalize on renewed investor ‌interest in biotech listings.

Biotech has been one of the more active ⁠sectors in this year's ​fall IPO market, even ⁠as rising bond yields and concerns around ‌the AI trade ‌weigh on broader risk appetite.

Here are more details:

• ⁠Basel, Switzerland-based Windward ⁠Bio is developing long-lasting antibody treatments for asthma, chronic obstructive pulmonary disease and inflammatory skin conditions, with the aim of reducing how frequently patients need injections

• WIN378, the company's lead drug ‌candidate, is an antibody designed ​to block thymic stromal lymphopoietin, or TSLP, which is a protein that triggers several inflammatory pathways involved in asthma and other respiratory diseases

• Novo Holdings and funds managed by Blue Owl Capital have pre-IPO stakes of 14.5% and 5.9%, ​respectively, in the company

• Windward has secured ‌up to $365 million ‌from ⁠investors including OrbiMed, Novo Holdings, Omega Funds and Blue Owl Healthcare Opportunities

• The company plans to list its shares on Nasdaq under the symbol "WWB". Jefferies, ‌TD Cowen, Piper ​Sandler and UBS Investment Bank ‌are the underwriters ⁠for ​the offering

(Reporting by Pragyan Kalita in Bengaluru; Editing by ​Shreya Biswas)

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